Stop selling WDC for so cheap!!! - page 2.

flound1129

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www.multipool.us

Quote from: Hydroponica on May 24, 2013, 04:47:22 AM

Quote from: NWO on May 24, 2013, 04:42:38 AM

Don't listen! He just wants to sell his at a reasonable price before the big crash! SELL WHILE YOU CAN!

WDC is a deadcoin now.

And thus is the difference between me and you. WDC appears to have failed, and so, I can move on. Shitty deal, it failed, not because it was a shit coin, but because greedy miners killed it by dumping it too low. What can you do?

Here's a hint: if there's nothing to do wtih your coin other than trade it for another coin that actually has value, that's all people are going to do with it.

JesstersDead

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I forgot where I put my wallet.dat

Quote from: Hydroponica on May 24, 2013, 07:32:20 AM

Quote from: sterob on May 24, 2013, 07:21:01 AM

Quote from: JesstersDead on May 24, 2013, 06:21:39 AM

Quote from: sterob on May 24, 2013, 06:12:17 AM

well, people are short sighted. They dont know if they can hold the coin and increase the network hash, WDC could be on btc-e or even mtgox.

As a miner with a 400+ USD per month electric bill, I would assume a lot of miners just want to keep the power on. It seems to me just by tracking the names across various pools that people tend to throw all their hashing power at a single coin. I have dedicated LTC miners that do nothing but mine LTC, with my remaining 10 or so MH/S I can afford to take risks, try new coins, etc. If I had to guess I would say most miners are sticking all their eggs in one or two baskets, and hoping just to break even at the end of the month. In a scenario such as that, you can't exactly tell the power company to hold off a bit so your coin-of-the-week can increase in value lol. Unfortunately for them, operating like that is never going to amount to much more than "keeping the power on".

If your saving cant handle 400+ USD eletric bill per month then you shouldnt mining in the first place. LTC was $0.5 for a looooong time which is even lower than FTC peak, yet it gonna hit mtgox. Why? because miner keep supporting it instead of mass dumping. You can sell your magikarp for $0.01 or support it till it becomes gyarados worth %100, your choice.

lol, pokemon

Okay, now I get the reference. Didn't know wtf he was talking about lol

Hydroponica

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fml

Quote from: sterob on May 24, 2013, 07:21:01 AM

Quote from: JesstersDead on May 24, 2013, 06:21:39 AM

Quote from: sterob on May 24, 2013, 06:12:17 AM

well, people are short sighted. They dont know if they can hold the coin and increase the network hash, WDC could be on btc-e or even mtgox.

As a miner with a 400+ USD per month electric bill, I would assume a lot of miners just want to keep the power on. It seems to me just by tracking the names across various pools that people tend to throw all their hashing power at a single coin. I have dedicated LTC miners that do nothing but mine LTC, with my remaining 10 or so MH/S I can afford to take risks, try new coins, etc. If I had to guess I would say most miners are sticking all their eggs in one or two baskets, and hoping just to break even at the end of the month. In a scenario such as that, you can't exactly tell the power company to hold off a bit so your coin-of-the-week can increase in value lol. Unfortunately for them, operating like that is never going to amount to much more than "keeping the power on".

If your saving cant handle 400+ USD eletric bill per month then you shouldnt mining in the first place. LTC was $0.5 for a looooong time which is even lower than FTC peak, yet it gonna hit mtgox. Why? because miner keep supporting it instead of mass dumping. You can sell your magikarp for $0.01 or support it till it becomes gyarados worth %100, your choice.

lol, pokemon

sterob

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★YoBit.Net★ 350+ Coins Exchange & Dice

Quote from: JesstersDead on May 24, 2013, 06:21:39 AM

Quote from: sterob on May 24, 2013, 06:12:17 AM

well, people are short sighted. They dont know if they can hold the coin and increase the network hash, WDC could be on btc-e or even mtgox.

As a miner with a 400+ USD per month electric bill, I would assume a lot of miners just want to keep the power on. It seems to me just by tracking the names across various pools that people tend to throw all their hashing power at a single coin. I have dedicated LTC miners that do nothing but mine LTC, with my remaining 10 or so MH/S I can afford to take risks, try new coins, etc. If I had to guess I would say most miners are sticking all their eggs in one or two baskets, and hoping just to break even at the end of the month. In a scenario such as that, you can't exactly tell the power company to hold off a bit so your coin-of-the-week can increase in value lol. Unfortunately for them, operating like that is never going to amount to much more than "keeping the power on".

If your saving cant handle 400+ USD eletric bill per month then you shouldnt mining in the first place. LTC was $0.5 for a looooong time which is even lower than FTC peak, yet it gonna hit mtgox. Why? because miner keep supporting it instead of mass dumping. You can sell your magikarp for $0.01 or support it till it becomes gyarados worth %100, your choice.

moreporknz

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Activity: 212

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Ok, Who's hungry?

Quote from: MinerLT on May 24, 2013, 06:59:22 AM

sad to say Undecided

but miners dumping their WDC masses right now.
nobody needs that coin Undecided

lol what a load of crap.. wdc isn't on an exchange able to handle mass wdc dumps lol (lack of btc volume)... If it hit the likes of BTC-e it would be the ultimate pump n dumpers playtoy

MinerLT

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sad to say Undecided

but miners dumping their WDC masses right now.
nobody needs that coin Undecided

jdebunt

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"worldcoin" is a term that could push this coin's value over BTC's value if it gets adopted right.

JesstersDead

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I forgot where I put my wallet.dat

Quote from: fenican on May 24, 2013, 06:44:06 AM

Miners support the network. Merchants and users support the coin.

That is why BTC is trading for $100+. It has a strong network of merchants and users.

For WDC or any coin to be non zero long term, it needs to grow the merchant and user base. If not, it has no future regardless of whether miners sell or horde.

Couldn't agree more. Which is also why I am all in for FTC at the moment. First glance at any exchange would make that seem like an illogical idea, but FTC thus far(With the exception of LTC/BTC of course) has been the only coin that has offered me any sort of real world application. Even if it was just registering a domain name for the wife's blog. lol. That in and of itself hold more actual value than "x alt coin is trading for x amount of alt coin2".

fenican

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Miners support the network. Merchants and users support the coin.

That is why BTC is trading for $100+. It has a strong network of merchants and users.

For WDC or any coin to be non zero long term, it needs to grow the merchant and user base. If not, it has no future regardless of whether miners sell or horde.

JesstersDead

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Activity: 154

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I forgot where I put my wallet.dat

Quote from: Vycid on May 24, 2013, 06:30:49 AM

Quote from: JesstersDead on May 24, 2013, 06:28:52 AM

Quote from: Vycid on May 24, 2013, 06:23:08 AM

Quote from: JesstersDead on May 24, 2013, 06:21:39 AM

Quote from: sterob on May 24, 2013, 06:12:17 AM

well, people are short sighted. They dont know if they can hold the coin and increase the network hash, WDC could be on btc-e or even mtgox.

As a miner with a 400+ USD per month electric bill, I would assume a lot of miners just want to keep the power on. It seems to me just by tracking the names across various pools that people tend to throw all their hashing power at a single coin. I have dedicated LTC miners that do nothing but mine LTC, with my remaining 10 or so MH/S I can afford to take risks, try new coins, etc. If I had to guess I would say most miners are sticking all their eggs in one or two baskets, and hoping just to break even at the end of the month. In a scenario such as that, you can't exactly tell the power company to hold off a bit so your coin-of-the-week can increase in value lol. Unfortunately for them, operating like that is never going to amount to much more than "keeping the power on".

Also, if WDC goes straight to zero - which, let's be honest, is way more likely than ending up on mtgox for ANY of the new altcoins - us miners are stuck with that power bill. That's real money we owe, with nothing to show for it.

Which is why I have dedicated LTC miners. Sell enough LTC to cover the bills, hold the rest, use extra hashpower for risk taking. I mined a ton of WDC, but I will sit on them until things settle as they aren't necessary to pay the bills. I don't understand how flash miners are covering their operating expenses without at least some market speculation. Which based on the pump-and-dumps of late, they do not seem to have. case.

https://en.wikipedia.org/wiki/Opportunity_cost

I assume you paid for your hardware, too.

No no, HD 7950 tree in the back yard Tongue

Recouping hardware costs, while a long term consideration, are not an immediate issue. For me at least. As the money was already pegged for more conventional investment mechanisms. Given that anything "conventional" would offer 12% at a maximum over multiple years, while typically requiring additional investment later on, I opted for a more "non-conventional" investment. Frankly, I saw it as a more safe and entertaining bet. Worse case scenario, hardware is sold off at 50% purchase cost, the other 50% of initial investment cost was made fairly quickly just by sitting on coins mined the first few months of operation.

BitJohn

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@Bit_John

Quote from: xjd1987 on May 24, 2013, 06:30:28 AM

WDC is a deadcoin now.

It is REALLY hard for WDC to die as it will adjust so fast that eventually Difficulty will be low and it will be very profitable again network will climb prices will go up. It will work great.

Hydroponica

full member

Activity: 182

Merit: 100

fml

Hey, relax. Just sparking up a Friday morning debate. I haven't sold off any WDC that I mined, just sold off what I bought while day trading it. I have a 70,000 a year job to pay the bills, this is just play money for me.

Vycid

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♫ the AM bear who cares ♫

Quote from: JesstersDead on May 24, 2013, 06:28:52 AM

Quote from: Vycid on May 24, 2013, 06:23:08 AM

Quote from: JesstersDead on May 24, 2013, 06:21:39 AM

Quote from: sterob on May 24, 2013, 06:12:17 AM

well, people are short sighted. They dont know if they can hold the coin and increase the network hash, WDC could be on btc-e or even mtgox.

As a miner with a 400+ USD per month electric bill, I would assume a lot of miners just want to keep the power on. It seems to me just by tracking the names across various pools that people tend to throw all their hashing power at a single coin. I have dedicated LTC miners that do nothing but mine LTC, with my remaining 10 or so MH/S I can afford to take risks, try new coins, etc. If I had to guess I would say most miners are sticking all their eggs in one or two baskets, and hoping just to break even at the end of the month. In a scenario such as that, you can't exactly tell the power company to hold off a bit so your coin-of-the-week can increase in value lol. Unfortunately for them, operating like that is never going to amount to much more than "keeping the power on".

Also, if WDC goes straight to zero - which, let's be honest, is way more likely than ending up on mtgox for ANY of the new altcoins - us miners are stuck with that power bill. That's real money we owe, with nothing to show for it.

Which is why I have dedicated LTC miners. Sell enough LTC to cover the bills, hold the rest, use extra hashpower for risk taking. I mined a ton of WDC, but I will sit on them until things settle as they aren't necessary to pay the bills. I don't understand how flash miners are covering their operating expenses without at least some market speculation. Which based on the pump-and-dumps of late, they do not seem to have. case.

https://en.wikipedia.org/wiki/Opportunity_cost

I assume you paid for your hardware, too.

xjd1987

full member

Activity: 137

Merit: 100

WDC is a deadcoin now.

JesstersDead

full member

Activity: 154

Merit: 100

I forgot where I put my wallet.dat

Quote from: Vycid on May 24, 2013, 06:23:08 AM

Quote from: JesstersDead on May 24, 2013, 06:21:39 AM

Quote from: sterob on May 24, 2013, 06:12:17 AM

well, people are short sighted. They dont know if they can hold the coin and increase the network hash, WDC could be on btc-e or even mtgox.

As a miner with a 400+ USD per month electric bill, I would assume a lot of miners just want to keep the power on. It seems to me just by tracking the names across various pools that people tend to throw all their hashing power at a single coin. I have dedicated LTC miners that do nothing but mine LTC, with my remaining 10 or so MH/S I can afford to take risks, try new coins, etc. If I had to guess I would say most miners are sticking all their eggs in one or two baskets, and hoping just to break even at the end of the month. In a scenario such as that, you can't exactly tell the power company to hold off a bit so your coin-of-the-week can increase in value lol. Unfortunately for them, operating like that is never going to amount to much more than "keeping the power on".

Also, if WDC goes straight to zero - which, let's be honest, is way more likely than ending up on mtgox for ANY of the new altcoins - us miners are stuck with that power bill. That's real money we owe, with nothing to show for it.

Which is why I have dedicated LTC miners. Sell enough LTC to cover the bills, hold the rest, use extra hashpower for risk taking. I mined a ton of WDC, but I will sit on them until things settle as they aren't necessary to pay the bills. I don't understand how flash miners are covering their operating expenses without at least some market speculation. Which based on the pump-and-dumps of late, they do not seem to have. case.

mr_random

legendary

Activity: 1344

Merit: 1001

Quote from: clint25n on May 24, 2013, 06:18:34 AM

Hydro, you have to let the price settle. It's only been a few days at an exchange.

He thinks like this because he is clueless and wants instant gratification. PPCoin, Terracoin are two of the more established alt currencies... it took them many months to get to where they are now. PPCoin lingered at 2-4 cents for months as millions of coins were produced.. then it went up to 30 cents and then down to 15 cents and so on.

Cryptos are volatile. The price will level out eventually where the demand meets the rate at which miners sell their mined coins. I believe in the need for faster confirmations and I am buying more when I identify a leveled out price point.

The most important thing is building a community of supporters and believers. That is something Feathercoin did very well.

Vycid

sr. member

Activity: 336

Merit: 250

♫ the AM bear who cares ♫

Quote from: JesstersDead on May 24, 2013, 06:21:39 AM

Quote from: sterob on May 24, 2013, 06:12:17 AM

well, people are short sighted. They dont know if they can hold the coin and increase the network hash, WDC could be on btc-e or even mtgox.

As a miner with a 400+ USD per month electric bill, I would assume a lot of miners just want to keep the power on. It seems to me just by tracking the names across various pools that people tend to throw all their hashing power at a single coin. I have dedicated LTC miners that do nothing but mine LTC, with my remaining 10 or so MH/S I can afford to take risks, try new coins, etc. If I had to guess I would say most miners are sticking all their eggs in one or two baskets, and hoping just to break even at the end of the month. In a scenario such as that, you can't exactly tell the power company to hold off a bit so your coin-of-the-week can increase in value lol. Unfortunately for them, operating like that is never going to amount to much more than "keeping the power on".

Right. If WDC goes straight to zero - which, let's be honest, is way more likely than ending up on mtgox for ANY of the new altcoins - us miners are stuck with that power bill. That's real money we owe, with nothing to show for it.

The indignance is not justified unless you're offering to cover our power bills.

JesstersDead

full member

Activity: 154

Merit: 100

I forgot where I put my wallet.dat

Quote from: sterob on May 24, 2013, 06:12:17 AM

well, people are short sighted. They dont know if they can hold the coin and increase the network hash, WDC could be on btc-e or even mtgox.

As a miner with a 400+ USD per month electric bill, I would assume a lot of miners just want to keep the power on. It seems to me just by tracking the names across various pools that people tend to throw all their hashing power at a single coin. I have dedicated LTC miners that do nothing but mine LTC, with my remaining 10 or so MH/S I can afford to take risks, try new coins, etc. If I had to guess I would say most miners are sticking all their eggs in one or two baskets, and hoping just to break even at the end of the month. In a scenario such as that, you can't exactly tell the power company to hold off a bit so your coin-of-the-week can increase in value lol. Unfortunately for them, operating like that is never going to amount to much more than "keeping the power on".

clint25n

sr. member

Activity: 840

Merit: 250

Hydro, you have to let the price settle. It's only been a few days at an exchange.

In the early days, the exchange rate is based purely on 20% speculation and 80% volume of coins in market cap.
WorldCoin has a higher volume, thus each WDC with start off lower.
Look at bitbar, it's not the best alt-coin, just more rare.

But all alt-coins need to work hard to grow beyond that. That's stage 2. This is where Worldcoin (I believe) will succeed, and plenty of people can still become early adopters.

mr_random

legendary

Activity: 1344

Merit: 1001

I'm a WDC supporter but OP doesn't have a clue how the crypto ecosystem works in connection with the markets.

Topic: Stop selling WDC for so cheap!!! - page 2. (Read 2384 times)